Unconditionally optimal monetary policy

Tatiana Damjanovic, Vladislav Damjanovic, Charles Nolan

    Research output: Contribution to journalArticlepeer-review

    21 Citations (Scopus)

    Abstract

    We develop a simple and intuitive approach for analytically deriving unconditionally optimal (UO) policies, a topic of enduring interest in optimal monetary policy analysis. The approach can be employed in both general linear-quadratic problems and in the underlying non-linear environments. A detailed example is provided using a canonical New Keynesian framework. (C) 2008 Elsevier B.V. All rights reserved.

    Original languageEnglish
    Pages (from-to)491-500
    Number of pages10
    JournalJournal of Monetary Economics
    Volume55
    DOIs
    Publication statusPublished - Apr 2008

    Keywords

    • unconditional expectations
    • optimal monetary policy
    • RATIONAL-EXPECTATIONS
    • RULES
    • PERSPECTIVE
    • MODEL

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